Customers Bancorp (NYSE:CUBI) Director T Lawrence Way Sells 48,796 Shares of Stock

Customers Bancorp, Inc (NYSE:CUBI) Director T. Way sold 48,796 shares of the company’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $83.88, for a total value of $4,093,008.48. Following the sale, the director owned 78,613 shares of the company’s stock, valued at approximately $6,594,058.44. The trade was a 38.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

T Lawrence Way also recently made the following trade(s):

• On Monday, November 2nd, T. Way sold 723 shares of Customers Bancorp stock. The stock was sold at an average price of $85.16, for a total transaction of $61,570.68.

Customers Bancorp Stock Up 2.1%

Shares of CUBI stock traded up $1.75 during trading hours on Wednesday, reaching $87.22. The company had a trading volume of 270,499 shares, compared to its average volume of 340,527. The stock’s fifty day simple moving average is $78.25 and its 200 day simple moving average is $75.98. The company has a market capitalization of $2.95 billion, a P/E ratio of 10.57 and a beta of 1.43. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.96 and a current ratio of 0.96. Customers Bancorp, Inc has a twelve month low of $63.44 and a twelve month high of $89.60.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, October 22nd. The bank reported $2.27 EPS for the quarter, topping the consensus estimate of $2.14 by $0.13. Customers Bancorp had a return on equity of 13.73% and a net margin of 19.11%. The business had revenue of $240.24 million for the quarter, compared to analysts’ expectations of $237.18 million. During the same quarter in the previous year, the firm posted $2.20 earnings per share. As a group, sell-side analysts expect that Customers Bancorp, Inc will post 8.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CUBI has been the topic of several research reports. DA Davidson set a $107.00 price objective on Customers Bancorp in a research note on Monday, October 26th. Morgan Stanley reiterated an “underweight” rating and issued a $97.00 price target on shares of Customers Bancorp in a report on Monday, October 26th. Piper Sandler reiterated an “overweight” rating and issued a $102.00 price target (up from $92.00) on shares of Customers Bancorp in a report on Monday, October 26th. Keefe, Bruyette & Woods upped their price target on Customers Bancorp from $88.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Customers Bancorp from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.36.

Institutional Investors Weigh In On Customers Bancorp

Institutional investors have recently modified their holdings of the business. Bessemer Group Inc. lifted its holdings in Customers Bancorp by 78.4% in the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after acquiring an additional 232 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Customers Bancorp during the second quarter valued at approximately $40,000. Versant Capital Management Inc grew its holdings in shares of Customers Bancorp by 41.0% during the second quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock valued at $44,000 after purchasing an additional 163 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Customers Bancorp during the 2nd quarter worth approximately $71,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of Customers Bancorp by 528.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,445 shares of the bank’s stock worth $106,000 after purchasing an additional 1,215 shares during the period. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Company Profile

Customers Bancorp, Inc is a bank holding company headquartered in Wyomissing, Pennsylvania. Through its principal subsidiary, Customers Bank, the company provides banking and financial services to businesses, entrepreneurs, professionals and consumers in the United States.

Customers Bank offers commercial and industrial lending, commercial real estate financing, small business lending, mortgage warehouse financing, venture banking and other specialized credit products. Its services also include business and consumer deposit accounts, cash management, treasury services, online banking and payment solutions.